Investing.com — There was significant activity in the markets this week, with several notable names making headlines for different reasons. Here are Investing.com’s best stocks of the week: Goal (NYSE:), Super Micro Computer (NASDAQ:) and MicroStrategy.
Goal
Target shares fell nearly 22% on Wednesday after the company’s latest quarterly results significantly disappointed investors.
The retailer reported third-quarter earnings of $1.85 per share, $0.45 worse than the analyst estimate of $2.30 per share, while revenue for the quarter came in at $25.67 billion, below the consensus estimate of $25.87 billion.
Additionally, Target said fiscal 2025 earnings per share will be between $8.30 and $8.90, well below the $9.52 consensus.
Following the results, both Citi and Deutsche Bank (ETR:) downgraded the stock to Neutral/Hold from Buy.
“With Walmart’s (NYSE:) stock gains largely coming from higher-income consumers, TGT appears to be the one most at risk of losing additional market share,” Citi said.
“While we still believe TGT’s long-term potential remains, regaining lost market share will likely require substantial price investments and intensified promotions, putting pressure on margins and profitability,” Deutsche Bank said.
Supermicro (SMCI)
After significant declines in recent weeks, SMCI posted significant gains this week (+85% at the time of writing).
The gains started Monday after it was announced that the company plans to submit a proposal to maintain its listing on the Nasdaq stock market. The increase was subsequently amplified after SMCI announced that the Audit Committee of its Board of Directors had appointed BDO USA, PC (BDO) as its independent auditor, effective immediately. The company also requested a delay from Nasdaq due to the delayed financial filings.
The company then said Wednesday that it had filed a compliance plan with Nasdaq on Nov. 18, 2024, in support of its request for an extension of time to return to compliance with Nasdaq’s continued listing requirements. The company has indicated that it believes it will be able to file both its annual report on Form 10-K for the fiscal year ended June 30, 2024, and its quarterly report on Form 10-Q for the period ended September 30, 2024. , and become current with its periodic filings within the discretionary period available to the Nasdaq staff to grant.
Year to date, SMCI stock is up about 10.8% as of 1:50 PM ET on Friday.
MicroStrategy
MicroStrategy made our Stocks of the Week list for the second year in a row as its shares continued to rise.
At the time of writing, the stock is up about 31.6% in the last week of trading. The stock is up 12% so far on Friday.
As the price continued to rise, trading above $99,000 and approaching $100,000, MSTR has benefited significantly.
On Wednesday, MicroStrategy announced that it has completed the offering of its 0% convertible senior notes due 2029, with the aggregate principal amount of the notes sold in the offering amounting to $3 billion.
The company said it plans to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.
